If you’re buying a GM vehicle in the next two months and you live in Washington or Oregon, here’s some (potentially) good news:. GM will pick up the tab on a year’s worth of MetLife auto insurance, above the minimum coverage levels specified by the states. I say “potentially good news”, because the deal comes with certain caveats, like applying only to personal (non-commercial and non-fleet) vehicles, being non-transferrable if you sell the car and being non-refundable if you opt to get your own coverage.
On the other hand, if your driving record is a train wreck, the deal may save you serious money. There’s no exclusion for a bad driving record (as long as you have a valid driver’s license and live in either Washington or Oregon), and there doesn’t appear to be any age limit restrictions, so go ahead and buy that ZR1 Corvette. Your 17 year old son is covered by the plan, as long as you give him permission to drive the car. It even gives you replacement value for a new car should your 17 year old son have an up-close-and-personal encounter with an oak tree or concrete wall.
Here’s the downside: at the end of the policy term, MetLife may or may not offer to renew your insurance. Rack up a few speeding tickets or accidents, and you can very easily find yourself without insurance coverage. Drive like a nun, and chances are good that MetLife will want to keep you as a customer.
For those of us with car insurance linked to homeowner’s policies, or with multi-car discounts, the plan may not be that attractive. Ironically, that includes most of the drivers with clean records that MetLife would want as customers. It seems to me that the plan will be very appealing to those who otherwise couldn’t get insurance, or couldn’t afford both a car payment and an insurance payment. If you’re a single male with a few tickets and accidents who happens to live in Oregon, there’s never been a better time to buy a Camaro SS or a new Corvette. The deal only lasts through September 6, so hit your local dealer up soon.
Source: General Motors